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Carisk Partners Recapitalizes with Lee Equity Partners and Elements Health Investors - Positioning the Company for Continued Growth and Expansion

Monday, December 4, 2023 | 268 | 0

MIAMI - December 4, 2023 - Carisk Partners ("Carisk"), a specialty risk transfer and care coordination company, announced today the completion of a recapitalization led by Lee Equity Partners, LLC ("Lee Equity") and Elements Health Investors, LLC ("Elements"). The recapitalization will fund Carisk's continued expansion and position the company to invest in best-in-class products and services to benefit clients and beneficiaries across the workers' compensation claims value chain.

Previously, an MBF Healthcare Partners portfolio company, Carisk Partners is a leader in the workers' compensation marketplace. With deep clinical expertise and a foundation in Behavioral Health, Carisk manages the most complex catastrophic cases in a cost-effective manner through true value-based contracting. Carisk's unique clinical model takes a whole-person approach, addressing social determinants of health and health equity, which ultimately drives superior outcomes.

"Our team is excited to partner with seasoned healthcare investors who encompass a deep understanding of the clinical program landscape and market needs," states Joseph Berardo, Jr., Carisk CEO. "Carisk is only scratching the surface of the number of injured workers and their families who we could be helping through our industry leading care coordination solutions. Increased access to capital provides an incredible opportunity for our company to accelerate our investments for the future."

Christian Chauvet, Partner with Lee Equity, commented, "We are excited to support Joe and his team for the next phase of Carisk's innovation. Lee Equity Partners has a proven track record of partnering with management teams to build market leading businesses. We are confident the experience, resources, and relationships we bring to bear will add to the success of Carisk."

Curtis Lane, Executive Chair of Elements Health Investors, added, "Elements' excitement to work with the Carisk team is driven by our strong belief that this company is changing the way injured workers are supported in recovery. There is a significant opportunity to improve the clinical approach to workers' compensation injuries and Carisk is leading this transformation."

Jorge Rico, Managing Partner of MBF Healthcare Partners, offered, "The Carisk journey has been exciting to watch as the company evolved from a start-up to a leader in the marketplace. We are very thankful and fortunate for the opportunity to have partnered with Joe and his team and wish them all the best as they continue doing great work."

Houlihan Lokey served as the exclusive financial advisor to Carisk. Akerman served as seller counsel, Ropes & Gray as buyer counsel.

About Carisk Partners

Carisk Partners is a specialty risk transfer and care coordination company operating in the workers' compensation market. Since 2016, Carisk Partners has redefined the way patients and clients access high quality care and support services. Today, Carisk continues to transform the workers' compensation marketplace by providing seamless experiences across all products and services and empowering patients through its proprietary Pathways™ 2 Recovery care model. www.cariskpartners.com

About Lee Equity Partners

Lee Equity Partners, LLC is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity targets equity investments

of $50 million to $150 million in middle-market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in the United States. The firm invests within three distinct sectors, financial services, healthcare services, and business services, where the team has developed deep relationships over decades. Additional information is available at www.leeequity.com.

About Elements Health Investors

Elements partners with healthcare services companies that share our aims of improving the quality-of-care delivery for patients and lowering costs to the system. We target $20 to $40 million equity investments in companies that address themes of shared interest, are experiencing rapid growth and can benefit from our partnership. www.elementshealthinvestors.com

About MBF Healthcare Partners

MBF Healthcare Partners II, L.P. is a leading middle-market healthcare private equity fund based in Coral Gables, Florida. Our strategy is to partner with exceptional management teams while leveraging MBF's operating experience, domain segment knowledge, and tenured relationships to rapidly accelerate value creation. The partners of MBF have substantial operating experience in healthcare and have held senior management positions in both private and publicly traded healthcare companies. MBF principals have managed and helped build some of the nation's most innovative and successful healthcare companies. The firm is headquartered in Coral Gables, Florida. For more information, please visit www.mbfhp.com.

 

Media: Christine Gaul Carisk Partners chrissy.gaul@cariskpartners.com